When selling to large-scale, enterprise-level companies, the rules of the B2B sales funnel may be insufficient and some stages may be completely different. That’s why we need a more focused funnel to visualize the stages of enterprise sales and how to close enterprise deals.
What is Enterprise Sales?
Enterprise sales is a type of sales where you sell your products or services to larger-sized or scaled, commonly referred to as enterprise-level companies.
These sales interactions are defined by their complexity, high value, and the requirement for custom solutions to meet the needs of such expansive operations.
Dynamics of Enterprise Sales
Compared to other types of sales, enterprise sales typically include:
- Longer sales cycles
- Customized proposals
- A larger number of stakeholders
- Multiple steps in the decision-making process
- Differences between user personas and buyer personas
- Increased security considerations
- Frequent requirement for integration with existing systems
- More complex legal and procurement processes
- Emphasis on return on investment (ROI)
- Team onboarding and training
How to Build an Enterprise Sales Funnel?
Based on our understanding of what enterprise sales means, the enterprise sales funnel is a strategic framework specifically designed to walk through the complex process of selling high-value products or services to large enterprises.
It serves as a guide through the complex journey from first contact to closing a deal and captures the nuances of enterprise-level interactions.
Focus Areas
To build an effective enterprise sales funnel, attention must be given to several critical areas:
- In-depth Targeting: Thoroughly understand the market and the specific business you are targeting to ensure your message and value proposition is appropriate.
- Relationship-driven Outreach: Build meaningful connections with stakeholders through personalized communication, recognizing the long sales cycle and the need to build trust.
- Customization and Adaptation: Understand the need for highly customized solutions that can be adapted to the customer’s existing systems and processes.
- Multi-Directional Interaction: Engage with various decision makers and influencers in different departments to address their unique concerns.
- Value Demonstration: Focus on clearly stating ROI and making your offering stand out from the competition in terms of value.
- Security and Compliance: Prioritize understanding and addressing the security requirements and compliance standards of the business.
- After Sales Support and Training: Plan comprehensive post-sales support and training to ensure successful implementation and adoption.
- Annual Offers: Structuring pricing and offers in a way that aligns with how enterprise companies budget and pay, which is often on an annual basis.
Enterprise Sales Funnel Stages
Among all sales funnels, this is the one that takes longer to finalize. But, it doesn’t mean it needs to have more stages. We can consider an enterprise sales funnel in 5 stages:
- Awareness & Meeting
- Qualification
- Demo & Trial
- Proposal & Discussion
- Contract & Close
Sales teams first meet the leads and determine if they are truly qualified, then offer a demo and trial to move the progress further. If the customer successfully completes the trial, the sales team can proceed with the proposal and discussion, eventually leading to contracts and closing.
1. Awareness & Meeting
This phase focuses on creating initial interest and awareness among potential enterprise customers. It’s about making your solution known to key decision makers in large organizations.
Signals
- Increased engagement with marketing content
- Requests for more information or direct inquiries
- Initial appointments or meetings being scheduled
Actions
- Targeted advertising and content marketing that speaks to the unique challenges of enterprise businesses
- Personalized outreach to key stakeholders
- Scheduling introductory meetings or calls to discuss potential solutions
Tips
- Use data and insights to tailor your reach
- Focus on creating value from the first interaction
- Be prepared to discuss how your solution aligns with their specific business needs
2. Qualification
The qualification phase involves assessing whether the lead has the potential and readiness to progress. It is very important to confirm that their needs are aligned with the solutions offered.
Signals
- Expressions of interest in specific solutions
- Product usage and intent signals
- Confirmation of budget and decision-making authority
- Alignment of your solution with their strategic goals
Actions
- Conducting in-depth discussions to understand the lead’s business needs and challenges
- Scoring leads based on different traits and behaviors
- Evaluating the lead’s budget, timeline, and decision-making process
- Determining the fit between the lead’s requirements and your product or service
Tips
- Ask targeted questions to uncover key information
- Prioritize leads that show clear alignment and potential for a strong partnership
- Use insights gained to tailor your approach in subsequent stages
3. Demo & Trial
Demonstrating the value of your solution through demos or trials, specifically addressing the organization’s unique concerns and requirements.
Signals
- Positive feedback or interest during or after the demo
- Requests for more detailed information or a trial period
- Engagement from multiple stakeholders
Actions
- Providing customized demos that highlight how your solution addresses their specific challenges
- Offering trial periods that allow potential clients to experience the solution firsthand
- Gathering feedback throughout the demo or trial process to refine your offering
Tips
- Ensure demos are relevant to each stakeholder’s interests
- Use trials as an opportunity to demonstrate ongoing support and value
- Be responsive to feedback and willing to adjust your offering accordingly
4. Proposal & Discussion
This phase involves providing a detailed, customized proposal outlining how your solution meets the needs of the business, focusing on customization and ROI.
Signals
- Discussions about the proposal
- Questions or requests for clarification
- Positive reception to the proposed solution and its alignment with their goals
Actions
- Creating a comprehensive proposal that addresses all aspects of the client’s requirements
- Engaging in discussions to refine and adjust the proposal as needed
- Demonstrating the ROI and value of your solution in clear, compelling terms
Tips
- Be clear and transparent about pricing, timelines, and deliverables
- Highlight case studies or examples of similar successful implementations
- Be prepared to negotiate terms that satisfy both parties
5. Contract & Close
Finalizing the contract involves addressing last-minute concerns and closing the deal, setting the stage for a long-term commitment.
Signals
- Agreement on the proposal’s terms and conditions
- Final negotiations on price and contract details
- Readiness to proceed with the purchase
- Finance team joined to the conversation
- Legal team joined to the conversation
Actions
- Reviewing and finalizing the contract details
- Closing the deal with the necessary legal and procurement processes
- Creating a plan for onboarding and integration
Tips
- Ensure that all contractual obligations are clear and mutually beneficial
- Maintain open communication to quickly address any concerns
- Focus on laying the groundwork for a successful, long-term relationship
Why Building Enterprise Sales Funnel is Important?
Overcoming the complexities of selling to large, enterprise-level companies requires a strategic and specialized approach.
An enterprise sales funnel, custom designed around the unique dynamics of enterprise sales, plays a key role in guiding sales teams through this complex process. The importance of building a specialized enterprise sales funnel comes down to a few key factors:
Alignment with Enterprise Customer Profiles
Whether your entire product stack or specific services meet the needs of enterprise-level companies, having a dedicated funnel ensures that your sales strategies are perfectly aligned with the ideal customer profile.
Enterprise customers often have complex needs and decision-making processes that are significantly different from small businesses.
Enterprise deals are famously complex and difficult to close. Not only are these transactions larger in scale, but they also involve guiding a network of decision makers and influencers, each with their own requirements and concerns. A well-structured enterprise sales funnel helps to systematically address these complexities at every stage.
Efficiency and Effectiveness
While the effort required to close enterprise deals is significantly higher, the rewards are greater in proportion. An enterprise sales funnel optimizes the sales process, ensuring time and resources are used wisely, leading to a higher return on investment. It maximizes efficiency and effectiveness by enabling sales teams to prioritize their efforts on the most promising leads and opportunities.
Training and Equipping Sales Teams
The complexity of enterprise sales requires sales representatives to be knowledgeable not only about the product or service, but also about understanding and leading the enterprise buying process. A defined enterprise sales funnel serves as a roadmap for training and equipping sales reps with the knowledge and skills needed to effectively engage with enterprise customers from initial contact to deal closure.
Comments
It’s not just about sales; it’s about complexities, from understanding the deep-rooted needs of the enterprise customer to finding a way to make get to decision-making processes.
Dealing with large companies requires a more focused sales funnel.
The emphasis on building a custom funnel that considers everything from initial awareness to the final contract highlights the importance of patience, accuracy and personalization in an enterprise sale.
